Whether utensils are considered as an fixed asset in a hotel
This query is : Resolved
23 November 2011
Please answer my query ASAP.
whether Utensils are considered as an fixed asset in an hotel industry?
whether Utensils are considered as an fixed asset in an hotel industry?
25 November 2011
Hi chirag. The answer to your qquestion is no. Actually utensils are consumables which cannot be carried forward in the balancesheet. The life of utensils used in a hotel can be taken as not exceeding one year and as such depreciating such items will not be coinsidered suitable according to accounting standards.
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